Outsourcing is the best way to grow a business, big or small. When a company is successful, it is usually because they are really good at what they do. But growth also means growing administrative tasks and the need for expertise. What do you do when you aren’t ready to hire a new employee? What are your options for getting something done professionally if you only have a short term need for a project?
Here are 3 big reasons why outsourcing is the answer to growing your business and making sure it runs smoothly.
1. Cut Costs
2. Focus Your Efforts Where It Really Matters
3. Low Risk, High Reward
1. Cut Costs
Cutting costs has obvious benefits. You may be able to sell your product or service cheaper, beating your competition and securing a larger customer base. How does outsourcing cut costs?
By now you should be familiar with the process of hiring an employee. It is expensive and demands a lot of responsibility on your part. Finding the right employee takes a lot of time and doing it right means you will have a detailed hiring process.
You also have to keep in mind healthcare, payroll taxes, vacations, the physical real estate in your business, the tools to get the job done, and a number of other things required by law to ensure your employee is treated fairly.
When you outsource, most of that goes out the window. A contractor is not the same thing as an employee. All you have to worry about is the quality of their work and if you did your research, then you shouldn’t have to worry about this either.
Here are the ways outsourcing can cut costs.
– More expertise means less time and money spent on the project
– Work done by an expert means you don’t have to spend time fixing and adjusting
– Any firm or contractor with a specialty knows the most cost-effective way to do it
– You don’t have to offer the same benefits you give your employees
– Not a long-term commitment that requires you to keep paying
2. Focus Your Effort Where It Really Matters
A big mistake a lot of growing businesses make is thinking they can do it all, keeping everything in house. This approach nearly always backfires and the quality of your services is usually the first thing to go. It is always a better idea to focus your time and effort where it matters the most.
How can outsourcing help you do that? The demands of a growing business usually fall into a couple of categories, expertise, and administrative tasks.
Let’s say you need to revamp your website. You might try to do it yourself by using simplified software with drag and drop tools. Or, you might even put in the time and effort to try learning how to build it professionally. But this kind of task is extremely time-consuming and the quality of the finished product is crucial to your business.
By choosing to outsource something like web development, you have the benefit of expertise and efficiency in a crucial component of your business. It will boost your credibility, increase your rankings in search engines, and help drive traffic towards your business.
Here is a list of ideas of services you can outsource.
– Web development
– Human resources
Do not make the mistake of sacrificing the quality of your business to keep everything in house. Remember it is a lot harder to regain a customer than it is to get a new one.
Here is a list of potential places to outsource.
If you’ve never heard of Fiverr, it is an online marketplace where thousands of freelancers promote individual tasks, that they can perform for you, at the cost of around $5. I’ve utilized Fiverr many times when I wanted to focus my attention on the money-making tasks instead of the day to day things that are definitely necessary for running a business but are time-consuming and take focus away what is really going to make you money in your business.
This platform allows you to hire Filipino workers for many different types of jobs. It typically tends to be more full-time focused rather than for individual tasks. Exceptionally good for hiring VA’s or support staff that you potentially would like to see grow with your business or work with on a regular basis.
Upwork is one of the most prominent freelance sites on the net right now. You can literally hire for any type of job here. I have used Upwork to find people to do Software Development, content writing, non-critical graphics (such as retouching of photos, etc.) and minor video editing and content formatting.
99designs is a tad more expensive, so I would recommend using it for graphics that will have major impact on your business (i.e., logos). The advantage with 99designs is that rather then choosing one designer upfront to work on a graphic, you get multiple designers submitting designs to you, that you get to filter through and choose which designer you want to work with. This means that you end up with a superior design that you chose.
Freelancer is a platform that has been around for nearly 15 years, has over 17,000,000 users and nearly 10 million projects posted. Like Upwork, I recommend using Freelancer when you are looking for someone who is well versed in written content, non-critical graphics and software development.
3. Low Risk, High Reward
Hiring a new employee requires a lot on your part. The money and time you put into training, hiring, making sure they have the tools they need, and the required benefits should be considered an investment.
One of the biggest risks is the possibility your employee can leave your company. They can leave for medical reasons, personal reasons, or to even go after a more appealing opportunity. When this happens, you lose everything you put into that employee.
Outsourcing has obvious benefits here. You put in a fraction of the investment you normally would have had to make by hiring. This means you won’t have to worry about whether or not they want to leave or stay. In fact, you probably don’t plan on keeping them for very long anyway.
The high reward also comes in when expertise is an issue. Usually, the greater the expertise, the greater the investment you will need to make. This does not apply to outsourcing your needs for more specialized expertise.
Just like you do what you do best, they do what they do best. This means most outsourcing opportunities will be able to offer you their services at a fraction of the cost.
Here are some of the ways outsourcing can bring major benefits.
– Fraction of the investment
– Expert knowledge and expert results
– Accomplish tasks more efficiently
– Makes attaining expertise easier
– Only pay for the service
Outsourcing Is the Key to Growing Your Business
Outsourcing shouldn’t scare you, hiring a new employee should. If you want to grow your business, or keep up with a growing business, then outsourcing is the way to do it.
Cut costs, focus where it matters, and put in as low a risk as possible. Most growing businesses struggle with limited capital and this opens up a lot of opportunities for them.
One of the best ways you could utilize outsourcing to grow your business is through marketing. I recommend outsourcing social media marketing, search engine optimization (SEO), content marketing, and especially affiliate marketing. After all, one of the best ways to grow a business is to increase your brand visibility and online marketing is one of the most effective ways to do that.
Get ahead of your competition using the expertise they just do not have and take your business to the next level. Learn more about ways you can grow your business and how Affiliate Marketing is a great way to get started.
Personally, I was on a journey to become an affiliate marketer and found outsourcing as the best thing that ever happened to me. It opened my eyes to the way in which the world we now live in is run. A few dollars hiring someone, went a long way to branding my business and getting me on the fast track to success.
I have been mentored by some of the greats in the industry, John Thornhill being one of them. Johns’s marketing system gave me a leg up in the game… and the irony of it all, I was able to outsource most of what he teaches and start making money. 😊
For a more detailed look on the step by step outsourcing process
I know starting the process may seem a tad bit intimidating, but don’t feel overwhelmed. Trust me, it is easier than you think. Knowing where to start is the biggest step, so I have created a checklist which includes:
– Evaluating Freelancers
– Red flags to watch out for
– Creating post-hire instructions (including script and questions)
– Freelance Testing Strategy
CLICK HERE to Receive More Info
This is a guest post from Tamara Paige, if you would like to be considered for a guest post please contact me.